More regulations, these two words make hedge managers across the country cringe. In response to the threat of increased regulation, more and more hedge fund managers are consulting with Policy experts to understand how increased regulation will affect their investment decisions, writes David Bogoslaw of BusinessWeek .
Earlier this week at the ABA’s white collar crime conference Neil Barofsky, the special inspector general special inspector general for the Troubled Asset Relief Program (TARP) said his office expects to hire 75 to 100 attorneys in the upcoming year.
Barofsky believes white collar crimes attorneys will see a significant increase in work as the government continues to use TARP money to infuse the private sector. Barofsky believes that up to $300 of the TARP funds may be vulnerable to fraud by banks, hedge funds, mortgage servicers and others that take funds. Barofsky believes that companies may make misrepresentations about their financial status in order to get TARP money and use the money in a manner inconsistent with TARP.
In addition Mark Mendelsohn, of the Department of Justice’s Foreign Corrupt Practices Act (FCPA) is looking for attorneys as well.